Auto sales see 5% growth in FY25; industry seeks GST cut to drive demand

As of March 30, the total automobile sales for the financial year were seen at 25.9 million units, up from 24.6 million in FY24, and 22.3 million in FY23

India’s automobile industry is set to close the financial year 2024-25 (FY25) with over 5 per cent growth, almost half of the 10 per cent rate it clocked during FY24, a slide which can partly be attributed to a sharp dip in March sales due to dampened consumer confidence.

 

While the automobile sales are expected to cross 26 million mark in FY25, the electric vehicle (EV) sales too may breach the 2-million mark for the first time in a financial year, up 20 per cent from 1.6 million in 2023-24.

 

A major spoilsport for FY25 was the sales in the